The smartest sage on all of this, William Greider of The Nation, has the best possible fallback position. “We should make one simple demand: If taxpayer money is used, we want the same deal Buffett got.”

Buffett’s deal was preferred stock with 10 percent annual return and the right to convert to stock if the stock takes off after the bailout. Taxpayers should get the same deal.

Recent Stories by Robert Borosage

Democrats can use their new leverage in Washington to expose how big money has used the Trump administration to rig the rules in ways that hurt working people, and show ways that in key areas - education, the environment, and criminal justice - there is an alternative.

Trump not only hasn’t delivered on his promises for workers; he’s joined the other side. It’s noaccident that workers in America have suffered stagnant wages and reduced benefits. It is the result of a systematic corporate campaign to crush unions, rig trading rules to benefit investors and roll back public regulations and investments Trump and the Republican Congress are now doubling down on that assault.

About Robert Borosage

Robert L. Borosage is a senior advisor to People's Action and writes widely on political, economic and national security issues. He is a Contributing Editor at The Nation magazine, and his articles have appeared in The American Prospect, The Washington Post, the New York Times and the Philadelphia Inquirer.